Global cues drag equity markets lower

Mumbai Aug 29 (IANS) Rising geo-political tension in Northeast Asia dragged the key Indian equity indices -- the NSE Nifty50 and the BSE Sensex -- lower during the early morning trade session on Tuesday.

According to market observers heavy selling pressure also weighed on markets sentiments. Investors divested their positions in banking automobile and capital goods stocks.

Around 9.35 a.m. the wider 51-scrip Nifty of the National Stock Exchange (NSE) traded at 9 855.20 points -- down 57.60 points or 0.58 per cent.

The 30-scrip Sensitive Index (Sensex) of the BSE which opened at 31 724.84 points traded at 31 568.07 points -- down 182.75 points or 0.58 per cent from Monday s close at 31 750.82 points.

The Sensex has so far touched a high of 31 739.80 points and a low of 31 568.07 points during the intra-day trade.

On Monday the benchmark indices closed on a positive note as border tensions between China and India eased and a spurt of buying support was seen in the consumer durables capital goods and IT stocks.

Consequently the NSE Nifty50 on Monday rose by 55.75 points or 0.57 per cent to 9 912.80 points.

Similarly the Sensex edged-higher by 154.76 points or 0.49 per cent to 31 750.82 points.

--IANS
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